Jefferies analyst Thomas Chong raised the firm’s price target on Alibaba (BABA) to $165 from $150 and keeps a Buy rating on the shares. The company reported a solid set of June quarter results, with management highlighting synergies with Quick Commerce and UE improvement on optimization in user structure, order mix and fulfillment efficiencies, the analyst tells investors in a research note. The firm expects Alibaba to reach a new milestone and capture the next phase of growth ahead.
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